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Gen-X Ads Co. produces advertising videos. During the current year ending December 31, Gen-X Ads received the following notes: 1. 2. 3. 4. 5. 6. Date Jan. 14 Mar. 9 July 12 Aug. 23 Nov. 15 Dec. 10 (1) (2) (3) (4) (5) (6) Note Face Amount Dec. 31 $33,000 60,000 48,000 16,000 36,000 24,000 (a) Due Date Term 30 days Note 6 45 days 90 days 75 days Required: Assume 360 days in a year. 1. Determine for each note (a) the due date and (b) the amount of interest due at maturity, identifying each note by number. 60 days 60 days Interest Rate (b) Interest Due at Maturity 4% 7 5 6 8 6 2. Journalize the entry to record the dishonor of Note (3) on its due date. If an amount box does not require an entry, leave it blank. 3. Journalize the adjusting entry to record the accrued interest on Notes (5) and (6) on December 31. If an amount box does not require an entry, leave it blank. 38 4. Journalize the entries to record the receipt of the amounts due on Notes (5) and (6) in January and February. If an amount box does not require an entry, leave it blank. Note 5